Owls employ American bank

02 June 2009 10:00

Viewed : 17

Sheffield Wednesday have appointed the same American investment bank which brokered the takeover of Liverpool in a bid to attract major new investors to Hillsborough.[LNB] Wednesday chairman Lee Strafford and chief executive Nick Parker, appointed to the club's board in January to oversee the project, recently returned from a trip to the US where they spoke with several interested parties and, having appointed New York-based Inner Circle Sports, are confident a deal could soon be struck.[LNB] A club statement read: "At these meetings it became very apparent that genuine interest in the company can be converted into future investment, especially if the right conditions exist."[LNB] The statement continued: "To this end, the board announces the appointment of Inner Circle Sports LLC, a specialist sports-focused investment bank, based in New York, as advisors on the investment process.[LNB] "This bank and its directors have great experience in co-ordinating and executing transactions, both in the USA and in Europe, having been involved in many of the largest sports investment processes in recent years.[LNB] "Prior to agreeing to undertake the assignment, Inner Circle Sports have undertaken initial due diligence to assess the extent to which a transaction can be completed and have satisfied themselves that the longer term opportunity for an investing syndicate is compelling."[LNB] Inner Circle Sports advised Tom Hicks and George Gillett on their ¦pound;470million Liverpool takeover in early 2007 and more recently aided the purchase of a controlling stake in Sunderland by Texan billionaire Ellis Short.